EventShares US Policy Alpha
ALTAR
Score™
3.9% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
29.2x P/Sales
ratio
0.8x
P/BV
ratio
1.8x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
PLCY seeks to provide exposure towards companies that are impacted by government policies, such as tariffs, reforms, and legislative bills.

FUND BASICS
Category US Equities
Fund Sponsor Active Weighting Advisors
Website www.eventshares.com
Inception date Oct 17, 2017
Assets (mns) $18
Currency USD
Expense ratio 75 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 108
Wgt avg mkt cap (mns) $13,308
Large cap (>$10bn) 24.2%
Mid cap ($2-10bn) 41.5%
Small cap (<$2bn) 34.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CAMECO CORP 2.5 %
AVALARA INC 2.3 %
SCORPIO TANKERS INC 2.2 %
WORLD FUEL SERVICES CORP 2.1 %
AXON ENTERPRISE INC 1.9 %
REX STORES CORP 1.8 %
TYLER TECHNOLOGIES INC 1.8 %
REXFORD INDUSTRIAL REALTY IN 1.7 %
GRANITE CONSTRUCTION INC 1.6 %
RENEWABLE ENERGY GROUP INC 1.6 %
Total 19.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 87.7 %
CANADA 4.0 %
MONACO 3.4 %
GREECE 1.3 %
FINLAND 1.3 %
SWEDEN 1.2 %
BRITAIN 0.8 %
BERMUDA 0.5 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
17.1% 6.4% -- -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 1.09 91%
MSCI EAFE 1.14 73%
MSCI Emg. Mkts. 0.85 59%

Technical Indicators
Recent close $22.92
30d moving avg. $22.24
Annualized volatility 17.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.3%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $9,004

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the EventShares US Policy Alpha ETF based on the alternatives' overlap in portfolio holdings with PLCY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PLCY Expense: 75 bp ALTAR Score™: 3.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PLCY
Ticker Fund
Name
Overlap1
vs PLCY
(%)
Expense
ratio
(bp)
Savings
vs PLCY
(bp)
ALTAR
Score™
(%)
ALTAR
vs PLCY
(%)
PPA Invesco Aero & Defense 9.0 59 16 5.1 +1.2
AIRR First Trust RBA American Industrial Renaissance 8.8 70 5 5.4 +1.4
FVL First Trust Value Line 100 8.8 70 5 3.7 -0.2
FNY First Trust Mid Cap Growth AlphaDEX 8.6 70 5 3.8 -0.2
FIVG Defiance Next Gen Connectivity ETF 8.2 30 45 6.2 +2.3
RWK Invesco S&P MidCap 400 Revenue ETF 8.1 39 36 8.0 +4.1
IFRA iShares U.S. Infrastructure 7.8 40 35 5.9 +1.9
IHF iShares US Healthcare Providers 7.8 43 32 7.7 +3.8
RZG Invesco S&P Smallcap 600 Pure Growth 7.6 35 40 4.2 +0.3
FONE First Trust Cea Smartphone 7.5 70 5 6.4 +2.4
JKK iShares Morningstar Small Cap Growth 7.4 30 45 1.1 -2.8
XAR SPDR S&P Aerospace & Defense 7.4 35 40 4.9 +1.0
FITE SPDR Kensho Future Security 7.3 45 30 4.1 +0.1
HTEC Robo Global Healthcare Technology and Innovation 7.2 68 7 0.0 -3.9
PDP Invesco DWA Technical Leaders 7.0 62 13 3.9 -0.0
HONR InsightShares Patriotic Employers 7.0 65 10 7.0 +3.1
JHMH John Hancock Multifactor Health Care 6.8 40 35 6.9 +3.0
XHS SPDR S&P Health Care Services 6.8 35 40 6.5 +2.6
USMF WisdomTree U.S. Multifactor Fund 6.8 28 47 7.0 +3.1
AIEQ AI Powered Equity 6.7 77 -2 4.0 +0.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
EventShares US Policy Alpha
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.8 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 3.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 CATEGORY
AVERAGE
1.55
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.